Duality Advisers LP Purchases 10,562 Shares of Etsy, Inc. (NASDAQ:ETSY)

Duality Advisers LP boosted its position in Etsy, Inc. (NASDAQ:ETSY) by 94.1% in the first quarter, HoldingsChannel.com reports. The firm owned 21,783 shares of the specialty retailer’s stock after acquiring an additional 10,562 shares during the period. Duality Advisers LP’s holdings in Etsy were worth $1,497,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Etsy by 0.5% in the fourth quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock worth $2,740,000 after purchasing an additional 157 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Etsy by 3.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after acquiring an additional 161 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Etsy by 2.7% during the fourth quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock valued at $516,000 after acquiring an additional 168 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of Etsy by 1.1% during the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after acquiring an additional 172 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Etsy by 0.9% during the fourth quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock valued at $1,587,000 after acquiring an additional 184 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETSY has been the topic of several recent analyst reports. Wedbush cut their price objective on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Citigroup cut their price objective on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 25th. Finally, Needham & Company LLC dropped their target price on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.88.

Insider Transactions at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Etsy Trading Up 3.3 %

ETSY traded up $1.95 on Friday, hitting $60.26. 3,090,609 shares of the company’s stock were exchanged, compared to its average volume of 3,615,819. Etsy, Inc. has a fifty-two week low of $55.08 and a fifty-two week high of $102.81. The firm has a 50-day moving average price of $61.24 and a 200-day moving average price of $67.73. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 4.67 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, equities analysts predict that Etsy, Inc. will post 2.49 EPS for the current year.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.